- Nov 2022
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Unlike a cryptocurrency like Bitcoin, the digital yuan is issued directly by China’s central bank and does not depend on a blockchain. The currency has the same value as its analog equivalent, the yuan or RMB, and for consumers the experience of using the digital yuan is not that different from any other mobile payment system or credit card. But on the back end, payments are not routed through a bank and can sometimes move without transaction fees, jumping from one e-wallet to another as easily as cash changes hands.
Not a cryptocurrency, not a bank card
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- Sep 2022
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bam.kalzumeus.com bam.kalzumeus.com
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docdrop.org docdrop.org
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The processing systems fee is generally fairly low, around one 10th of a percent of the total purchase. There's a large market the merchant can choose from, which can keep this cost down. Then there's the credit card's network fee, around a quarter of a percent. And the largest fee of the system also happens here. The interchange fee, it's usually around two to 3%.
Credit card fees
The interchange fee is variable, and is paid to the bank. If a merchant wants to accept a network's cards, it must accept all of the variable interchange fees.
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bam.kalzumeus.com bam.kalzumeus.com
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Bank branches are no longer self-contained entities. They are feeders into a lather conglomeration of services intended to draw in new customers and sell new services to existing customers.
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bam.kalzumeus.com bam.kalzumeus.com
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Fraud is an unavoidable part of commerce in a society that values any sort of lower friction transactions. Companies accept differing amounts of fraud depending on the nature of the business. Fraud prevention and punishment is more external to government than other types of crime.
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- Aug 2020
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Gale, W. G., Gelfond, H., Fichtner, J. J., & Harris, B. H. (2020). The Wealth of Generations, With Special Attention to the Millennials (Working Paper No. 27123; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27123
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- Jul 2020
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www.nber.org www.nber.org
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Cavallo, A. (2020). Inflation with Covid Consumption Baskets (Working Paper No. 27352; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27352
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- May 2020
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psyarxiv.com psyarxiv.com
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Trueblood, J., Sussman, A., O'Leary, D., & Holmes, W. (2020, April 21). A Tale of Two Crises: Financial Fragility and Beliefs about the Spread of COVID-19. https://doi.org/10.31234/osf.io/xfrz3
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